Angola
Crude oil sales represent roughly 90% of total export earnings and 70% of fiscal revenues. As a result, the economic impact of the sharp drop in crude oil prices will be widespread.
The Angolan economy rose from the dead during the last quarter of 2018; however, risks to the economy remain ever-present. Real GDP is estimated to have increased by 2.2% y-o-y during the fourth quarter of last year, with the non-oil economy the main driver. On an annual basis the economy contracted by 1.7% last year. That said, both the current account and fiscal balances ended the year with comfortable surpluses. Nonetheless, the tide is turning again, as we lowered our oil price and oil production forecasts for 2019. This could have a negative effect on economic growth, fiscal revenues and the external balances. (Source: Angola Quarterly Update, published June 2019.)
Macroeconomic Data
(2018)
Fiscal Balance (as a % of GDP)
Consumer Price Index (% change y-o-y, avg)
Current Account Balance (as a % of GDP)
Real GDP (annual % change)
GDP per Capita, US$
Import Cover (months)
Population, million
Total External Debt (as a % of GDP)
-2.0
19.7
9.4
-2.5
3,291.3
7.4
30.8
44.3